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MANAGING MONEY. Management Toolbox. The National Democratic Institute. ICEBREAKER/INTRO/ GROUND RULES. Intro Ground rules Ice breaker exercise. MANAGING MONEY OBJECTIVES. Understand the components and value of a finance plan Grasp practical tips for creating and managing a budget. - PowerPoint PPT Presentation
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MANAGING MONEYMANAGING MONEYManagement Toolbox
The National Democratic Institute
• Intro• Ground rules• Ice breaker exercise
ICEBREAKER/INTRO/ICEBREAKER/INTRO/GROUND RULESGROUND RULES
MANAGING MONEY MANAGING MONEY OBJECTIVESOBJECTIVES
• Understand the components and value of a finance plan
• Grasp practical tips for creating and managing a budget
TOPICSTOPICS• Finance Plan
Why write one Steps to writing one Keys to success
• Budget Why make one Creating a budget Keys to success
• Finance plan• Budget• Donor groups• Solicit
KEY TERMSKEY TERMS
Photo: hamioui
WHY WRITE A FINANCE WHY WRITE A FINANCE PLAN?PLAN?
• A finance plan tells you: How much you will raise Where the money comes from Why they will give How you will raise the money When the money will come in Resources needed
WHAT DOES A FINANCE WHAT DOES A FINANCE PLAN LOOK LIKE?PLAN LOOK LIKE?
• Projected income by donor group• List of targeted donors• Projected income by fundraising
tool• Fundraising expenses• Cash flow• Message to donor groups• Schedule of activities
PARTS OF A FINANCE PLANPARTS OF A FINANCE PLAN• Quarterly goals• Revenue strategy• Timeline• Donor cultivation strategy• Research strategy• Re-solicitation strategy
QUARTERLY GOALSQUARTERLY GOALS• 1st Q 20-25%• 2nd Q 10-15%• 3rd Q 10-15%• 4th Q 45-55%
• Call time• Meetings• Volunteer raisers• Direct mail• Events• Online asks• Grant applications
REVENUE STRATEGYREVENUE STRATEGY
Photo: EarthEnergy Alliance
TIMELINE TIMELINE • Call time per week/month/quarter• Events• Direct mail and email solicitation• Legal deadlines
DONOR CULTIVATION DONOR CULTIVATION • Who will donate and why?• Circles of benefit
Ax- to Grind
RESEARCHRESEARCH
Photo: IRRI Images
RESOLICITATIONRESOLICITATION• Do I have to ask again?• When can I ask again?• How do I ask again?
All donors should be asked to make another contribution!
KEYS TO A SUCCESSFUL KEYS TO A SUCCESSFUL FINANCE PLANFINANCE PLAN
Be fluid Finance plan as a floor Set a goal Constantly adjust the plan Evaluate pitches and scripts Involve more people
EXERCISE: EXERCISE: FINANCE PLAN OUTLINEFINANCE PLAN OUTLINE
WHY WRITE A BUDGET?WHY WRITE A BUDGET?
PREPARING A BUDGETPREPARING A BUDGET1. Gather necessary resources:
Campaign plan Fundraising assessment Calendar Management tools Budget categories Estimated costs
PREPARING A BUDGETPREPARING A BUDGET2. Plan for contingencies3. Get buy-in from key players
KEYS TO A SUCCESSFUL KEYS TO A SUCCESSFUL BUDGETBUDGET
EXERCISE: BUDGETINGEXERCISE: BUDGETING
Photo: Nemo (Pixabay)
CONCLUSIONCONCLUSION• Finance plan tells you where/when
funds are coming into your campaign
• Budget tells you what funds you have, what expenses you have and what you expect to spend
Questions? Feedback?